Climax Prime Review – Trading With Illicit Firms Has An Anticlimactic End

When you read the name of this company for the first time, something other than an online broker comes to mind. Unfortunately, we’re not dealing with an adult entertainment provider, but a full blown financial scam instead.

With the victims of this misleading site piling up recently, it became important to create this Climax Prime review and raise public awareness. Stay with us as we analyze this scheme, and look into how to recover the lost assets.

Broker status:	Offshore Forex Trading Scam
Regulated by:	Unregulated
Operating Status:	Active Forex Scam
Known Websites:	climaxprime.org
Blacklisted as a Scam by:	CBR
Owner:	Climax Prime LTD
Headquarters Country:	St. Lucia / Bulgaria (alleged)
Foundation Year:	2021-06-29
Online Trading Platforms:	MT5
Mobile Trading:	Not available
Minimum Deposit:	$10
Deposit Bonus:	Not available
CFD Trading Option:	N/A
Crypto Asset Trading:	N/A
Available Trading Instruments:	N/A
Maximum Leverage:	1:300
Islamic Account:	No
Free Demo Account:	No
Accepts US clients:	US Clients are accepted
Global Fraud Protection Experts’ Verdict:	Avoid working with unregulated companies. For help with withdrawals, contact our legal team.

Illegal In Every Way

The operator of the climaxprime.org website is an alleged company named Climax Prime LTD, based in Saint Lucia, and holding a regional office in Bulgaria.

Since the St. Lucia FSRA does not regulate online brokers, we searched the ROCIP database instead and found out that the firm is not registered.

Until recently this firm falsely claimed to be based in another nation altogether, St. Vincent and the Grenadines, whose financial regulator, FSA, does not regulate brokers either.

Turning to the Bulgarian authority, we found out that FSC never issued any license to the company in question. The same is true for other regulators, including FCA, BaFIN, NFA and CySEC. During our search for any licenses, we found an outstanding warning issued by CBR instead!

While trading with an unlicensed broker, you cannot rely on regulatory fund safeties like compensation funds. You’re much more likely to just get robbed instead, as is the case with Torobase.

How The Scam Functions

The company mostly disseminates their illicit services through viral advertising. They hold active profiles on Facebook, Instagram, LinkedIn and Youtube, through which they influence a large group of people.

Additionally, the firm employs boiler room agents to actively seek out new targets by phone and Telegram. This is one of the most common strategies, and revolves around pressuring the mark into making a hasty, emotional decision.

To facilitate this, the agents will call numerous times every day and obnoxiously ask for money, all the while pretending to be some kind of a financial expert. All of the invested money is stolen, of course, and getting it back requires professional help.

Active Worldwide

The scam has been running for a while, judging by the info from the WhoIs database. It was first launched in 2021, targeting the people from these countries:

• Germany
• Turkiye
• United States
• Netherlands
• France

Of course, the web allows them to work on a truly global scale, in a manner similar to how Doyos works. If you suspect your broker of choice to be a fraudulent scheme, ask for help as soon as possible.

Not only should you report the cyber criminal, but also seek legal support to get your stolen funds back. Luckily for you, we have the means and educated personnel to help you with such issues.

Inaccessible MT5

The famous MetaTrader 5 has been the world’s leading trading software and will continue to rule the markets in the future thanks to all the features and tools it boasts. A variety of technical indicators and the following equipment allow you to conduct the most complex and in-depth market analysis.

However, as enthusiastic we were to test the trading environment, we quickly discovered that the website owners send out incorrect login credentials! The same happened when we attempted to log in to the mobile app.

Instruments “Coming Soon”

Trying to find out what available financial products are is another fruitless endeavor. At first we tried to detect which asset the platform offers but that wasn’t possible. After that, we also tried exploring the website a little better, but the web page that should list the available asset groups only says “coming soon”.

Varying Account Types

Climax Prime accounts all promise magnificent trading parameters and conditions that increase the profitability yet lower the risks. That’s not exactly doable, but it’s obvious that the sham is trying to make you buy into their story at any cost.

While some packages feature increased leverage and tighter spreads, others require commission or can be swap-free. Here’s how much cash you’ll have to be ready to throw in:

• Cent – $10
• Standard – $100
• ECN – $500
• Diamond – $20,000
• Prime – $5,000

Investments Under Increased Risk

If you’re resolved to trade on this bogus trading website, you’ll have to be ready to take extreme risks, which we absolutely do not advise you to do. We say this, however, because the maximum leverage allowed on currency pairs is 1:300.

Spreads could be as low as 0.0 pips, although in that case trading commission charged is $4 per trade. Cheaper account types feature less attractive spreads of 2.3 pips, which is far above the industry average.

Payout Policy Doesn’t Exist

You won’t find a Climax Prime withdrawal policy anywhere on the website. Although there is a Terms and Conditions document, it only references withdrawals in a vague, and poorly defined manner. Judging from the client feedback, the company is not exactly keen on allowing a withdrawal.

The client area also misses any traces of withdrawal guides or concrete details on how to perform a transaction. In order to even try to do anything related to this, you’ll first have to contact your alleged account manager and consult them first.

Don’t let these cybercriminals have their way with your money! Book a free consultation with our legal experts, and start your chargeback procedure today.

Don’t Trust Offshore Schemes!

As evident from the information we’ve presented in this review, companies operating from tax havens aren’t to be trusted. If they also get blacklisted, it is obvious that their unscrupulous actions have led financial regulators to warn the public of the threat they impose.

Please do not wait until your funds are permanently gone. As soon as you realize you’ve been defrauded, make sure you seek proper help. Our legal services are skilled at tracking the transactions and collecting information for a chargeback, so contact us at any point.